Wells Fargo & Company Reiterates “Equal Weight” Rating for Voya Financial (NYSE:VOYA)

Voya Financial (NYSE:VOYA)‘s stock had its “equal weight” rating reiterated by Wells Fargo & Company in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $76.00 target price on the asset manager’s stock, down from their previous target price of $87.00. Wells Fargo & Company‘s price target indicates a potential upside of 9.87% from the company’s current price.

Several other analysts also recently weighed in on VOYA. JPMorgan Chase & Co. reduced their target price on Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Barclays lowered their target price on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Bank of America reiterated a “neutral” rating and issued a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. Finally, Evercore ISI lowered their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.73.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $69.17 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The firm’s 50 day moving average is $74.67 and its two-hundred day moving average is $74.23. The firm has a market capitalization of $6.66 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.44 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $2.07 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Voya Financial will post 7.62 EPS for the current fiscal year.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Voya Financial

Several institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group lifted its stake in shares of Voya Financial by 17.0% in the fourth quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 169 shares during the period. US Bancorp DE lifted its position in shares of Voya Financial by 5.8% during the 3rd quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 202 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Voya Financial by 6.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock worth $261,000 after acquiring an additional 210 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Voya Financial by 118.9% in the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Voya Financial by 2.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock valued at $905,000 after purchasing an additional 245 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.